Shortly after the shutdown, plant employees began the process of cooling down the reactor and removing all nuclear fuel for storage in the plant’s used-fuel pool, a bath of highly purified, chemically balanced, fresh water. The 40-foot-deep pool—with reinforced concrete walls 2-feet thick—contains 2,430 fuel assemblies, more than half of the spent fuel that has accumulated over five decades.

Exelon estimated decommissioning would take 60 years. Its method, a process known as SAFSTOR, includes waiting for the radiation—both in the fuel pool and the reactor—to diminish naturally over decades, reducing the contamination risk for workers dismantling the facility. That plan changed dramatically last summer when Exelon reached an agreement to sell the plant to Holtec International, which has a technology campus in Camden, and proposes to complete the task in less than eight years by expediting the transfer of the spent fuel from the pool to dry storage casks before its radiation has appreciably decayed. Holtec and Exelon have asked the U.S. Nuclear Regulatory Commission for an expedited approval of the sale by May 1,prompting concern among environmentalists.

“What’s the big hurry?” asks Janet Tauro, board chair of Clean Water Action NJ. “Holtec may be the best thing in the world, but we’re talking about 1.7 million pounds of nuclear waste.” Lacey Township, the Sierra Club and Concerned Citizens of Lacey have asked the NRC to hold a public hearing. Tauro and Clean Water Action New Jersey have asked the state attorney general for a review of the Exelon/Holtec deal.

“The NRC will try to complete a review of the application by May 1,” says NRC spokesman Neil Sheehan.“But we have made it clear to Exelon and Holtec that achieving that will be contingent upon us receiving the information we need.” That could include information about technical aspects of the decommissioning and adequacy of funding for the project.

Exelon and Holtec officials are nonetheless optimistic the deal will be approved on their timetable. Soon, the nuclear license and the 700-acre property would be transferred to Holtec—along with control of a nearly $1 billion decommissioning trust fund generated by utility ratepayers over decades. Holtec would assume all liability for the spent nuclear fuel—and any potential accidents.

Jeff Tittel, director of the New Jersey Sierra Club, says he’s fine with the expedited decommissioning schedule. “It’s very doable and it’s been done many times throughout the country,” he notes. But he would like to see the storage site for the nuclear waste elevated and upgraded to withstand potential flooding or a terrorist attack. According to an AP report, the Sierra Club and several community groups also say the $1 billion fund is insufficient for cleanup and storage.

Tittel is “most concerned,” however, about the transfer of Oyster Creek’s ownership from Exelon, an industry behemoth with deep pockets, to Holtec, a relatively small limited-liability company, which will subcontract the work to an even smaller subsidiary. “If there is some kind of accident, there will be no one to hold accountable,” he says. …….

What’s in it for Holtec? The company would, in effect, hire itself and its subsidiary to clean up the site by drawing fees from the decommissioning fund. Holtec also would purchase its own storage casks for the cleanup…..

Gunter is also alarmed by Holtec’s partnership for the decommissioning work. SNC-Lavalin, Gunter says, currently faces federal corruption charges in Canada. Equally disturbing, he says, the company is “barred from doing any contractual work with the World Bank until 2023—again because of global corruption.”

SNC-Lavalin has had a legal cloud over its head since 2015 (the same year it began collaborating with Holtec) when allegations surfaced that former employees paid $150 million in bribes to officials in Libya to influence government policy and win contracts. …..And in May, Canadian authorities filed charges against SNC-Lavalin after a multiyear probe related to illegal political contributions.

“Is this the company we want to be handling a $1 billion trust fund?” asks Gunter……..

The decommissioning project is not the only joint venture between Holtec and SNC-Lavalin. The two companies are also collaborating on the design and production of a small, nuclear and modular reactor, called SMR-160, at Holtec’s Technology Campus in Camden. The reactor is planned for operation by 2026.

Last February, Holtec signed an agreement in Camden that calls for the state-run nuclear operator in Ukraine to adopt the SMR-160 technology to meet its energy needs. Shortly after, Holtec announced that Ukraine may also become a manufacturing hub for SMR-160 components.